Next blames warm weather for ‘disappointing’ sales
5 January 2016
From the section Business
Retailer Next has blamed the warm weather in the final few weeks of last year for a “disappointing” trading performance in the run-up to Christmas.
The company also said trading at its Next Directory online operation had been difficult, due in part to poor stock availability.
Between 26 October and 24 December, sales at its High Street shops fell 0.5%, but rose 2% at the Directory arm.
Next revised its full-year profit estimate to £817m.
This was at the lower end of its previous guidance issued in October, when it predicted profits of between £810m and £845m.
The retailer, which did not take part is some of the heavy discounting sales events at the end of last year, said in a statement: “We believe that the disappointing performance in the fourth quarter was mainly down to the unusually warm weather in November and December.”
The statement also pointed to “mistakes and challenges” faced …read more
Source:: BBC UK